PERTH (miningweekly.com) – Aim- and ASX-listed Thor Mining has completed the acquisition of privately held American Vanadium, which holds interests in uranium and vanadium projects in Colorado and Utah.
Thor in June this year announced an option agreement to acquire American Vanadium for a consideration comprising an exclusivity fee of A$100 100, of which A$50 100 will be satisfied by the issue of just over 8.3-million ordinary shares in Thor Mining.
Thor on Thursday said that it would now proceed to issue 24-million shares, at a price of 1p each, in full payment of the acquisition fee and for full interest in American Vanadium.
“We are very pleased to complete the acquisition of 100% of American Vanadium and its high grade uranium and vanadium claims. Thor has a well balanced portfolio of very attractive assets with copper, gold, tungsten and now uranium and vanadium,” said executive chairperson Mick Billing.